Financial News

Last week, the future of Shaw Communications Inc. was a lot clearer. It sold Shaw Media Inc. to related company Corus Entertainment Inc. and will make use of the proceeds to fund its recent acquisition of upstart carrier Wind Mobile Corp. Should both transactions pass muster by mid-year, Shaw would ...

The U.S. Powerball lottery and it is “world record” US$1.5-billion jackpot (or thereabouts) certainly caused a significant stir over the past couple of days. Even Canadians, apparently, were scrambling to get in on the action, flocking to American border towns to buy tickets. Jeesh. How Canadians can play the US$1.5-billion ...

A new report suggests Canadians are located on a record $75 billion in excess cash in their portfolios, fearful of making a move in today’s volatile markets. The analysis from CIBC World Markets economists Benjamin Tal and Royce Mendes out Tuesday suggests if history is true Canadians will jump back ...

Financial and companies dragged Canadian stocks lower for a third day, as equities worldwide sank amid deepening concerns concerning the health of the global economy. The Standard & Poor’s/TSX Composite Index slumped to 12,269 today, more than 20 per cent below its high on April 15 of 15,450.87. The benchmark ...

Canadian vehicle sales is going to be flat in 2016 as weakness in commodity-producing provinces is offset by strength within the industrial heartland, based on a new report from Scotiabank. Unless economic growth falls below last year’s one-per-cent pace, the bank expects passenger vehicle sales to stay comparable to 2015 ...

Canadian bank stocks weren’t well-liked by investors last year and the new year suggests the pessimism remains. The Canadian bank index is down nearly nine per cent so far this season, that has shaved a whopping $32 billion off the market cap of Canada’s banks. The price-to-book valuation for that ...

National Bank of Canada will take a writedown of $165 million, addressing the entire carrying value of its purchase of Canadian trading and securities finance company Maple Financial Group, after authorities in Germany turn off Maple’s business activities there over the weekend. On Monday, a spokesperson for that Ontario Teachers’ Pension ...

The spike in financial market volatility around the world will not leave Canada unscathed, said CIBC World Markets, as it downgraded its outlook for that country’s economic growth this season. The bank’s chief economist said Thursday that he now sees gross domestic product expanding by just 1.3 percent this year, ...

As far because the special committee of Pivot Technology Solutions is worried they’ve done their job: After months of negotiations, they’ve agreed to put a proposal, brought forward by a few insiders, towards the company’s shareholders for his or her consideration. And they have done that after searching of potential ...